Save Article

Global Logistic Properties Gets Bids as Sale Process Begins

The Singapore-listed firm’s chief executive and nonexecutive director are among the interested parties

By

P.R. Venkat

Feb. 3, 2017 6:05 a.m. ET

SINGAPORE—Warehousing giant Global Logistic Properties Ltd. said Friday that it has received bids from various parties to buy the Singapore-listed firm, including two of its top executives.

GLP, which currently has a market capitalization of $8.9 billion, was requested in December for a strategic review of the company’s options by its biggest shareholder, Singapore sovereign-wealth fund GIC Pte. Ltd. GIC owns 37% of GLP.